Diamonds North Resources's Profile

Diamonds North Resources Ltd Targeting Canada's Next Diamond Mine

Diamonds North Resources Ltd. Vancouver, BC., TXS.V : DNN is an exploration stage company engaged in he acquisition and exploration of diamond mineral properties in Canada.

Established in 2002, Diamonds North has since evaluated over 300 million acres of prospective land in the Northwest Territories and Nunavut. The Company has narrowed its focus on 7 million promising acres, comprising one of the largest portfolios of diamond prospective terrain in Canada.

The principal properties are ocated in orthern Canada throughout Nunavut (“NU”) and the Northwest Territories (“NWT”).

Highlights

  • Discovered 17 new kimberlites
  • Advanced 8 kimberlites to core drill sampling
  • Innovative exploration process proven effective.
  • Discovered a Nickel-Copper-Cobalt prospect
  • Drill tested 57 targets

2008 Accomplishments

Over the past year Diamonds North Resources' Amaruk project advanced the Company closer to its goal of discovering an Ekati or Diavik size diamond deposit. In the past, we excelled at project generation and land acquisition; in 2007, we successfully redirected that same energy and enthusiasm into target generation, discovery and evaluation. The numerous accomplishments made on our Amaruk project have differentiated Diamonds North from its peers. Our innovative and relentless approach to exploration, we believe, positions us one step closer to our goal. A few accomplishments that come to mind include:

  • Bulk Samples – Results Pending
  • Tuktu Complex – 20 tonnes
  • Qavvik Cluster - 15 tonnes
  • 7 new kimberlites – Results Pending
  • 29 kimberlites in total
  • Tunerq Nickel prospect
  • Initial program indicates grade potential 35 m of 1.05% NI including 9 m of 2.49%

For 2009, management has prepared a $2 million dollar exploration budget, a significant decrease from the current year’s $16 million exploration programs. The budget will be funded by with remaining flow-through expenditure obligations from this summer financing. Final budget amounts and specifics for work to be undertaken will be determined in the spring of 2009.

• Senior employees and a consultant of the Company agreed to defer 10% of their salaries or fees. This amount will accrue as a debt owing by the Company and shall not bear interest. At the Company’s election, this debt can be satisfied in cash and/or common shares.

• During the quarter, the Company reduced land positions on the following projects Arnaq 15,000 acres, Kidme 27,0000 acres, Siku 129,000 acres, Ualliq 47,000 acres and Ualliq 50/50 134,000 acres.

Amaruk Project

The Amaruk Project is situated in the heart of the Pelly Bay Diamond District of Eastern Nunavut, where Diamonds North Resources is the dominant landholder. The Company is focused on more than 3 million acres of ground in the region based on the presence of abundant indicator mineral dispersions and kimberlite float occurrences within a central core block spanning an area of about 80 kilometers.

For spring 2009, the Company has proposed a 40 kilometre ground geophysical survey surrounding the Tuktu and Qavvik kimberlites. A final program will be prepared, once all the 2008 data has been reviewed

Hepburn - 100% Owned

The Hepburn property is located along the western margin of the Slave Province in the Northwest Territories; the most prolific diamond terrain in North and South America. Within this region are two producing diamond mines, the Ekati and Diavik Diamond Mines, with another two in development.

Airborne geophysical surveys conducted over the property have led to the identification of over 200 kimberlite targets, ranging from 1 to 8 hectares in size.

Location, compelling mineral chemistry and the presence of numerous high-priority targets position Hepburn as a leading Canadian diamond exploration property.

Banks Island - 100% Owned

Banks Island has developed from a grassroots exploration project, to becoming one of the company's key properties, in a relatively short amount of time. It has emerged with the potential to become one of Canada's principle diamond discoveries.

Limited stream samples taken from the property have yielded kimberlite indicator minerals, including a high proportion of G10 garnets suggesting the potential for diamondiferous kimberlite.

Airborne geophysics conducted over the property has led to the identification of over 65 anomalies. One significant target has been identified that could be as large as 12 to 30 hectares in size and may be the source of the G10 garnets.

In 2008, the Company conducted a program detailed ground geophysics and prospecting to delineate targets for drill testing. The proposed budget was under $1 million.

Last changed at 14-Sep-2012 09:31PM by RockLicker

Management & Directors

  • Managemenrt

    & Directors

    Mark Kolebaba
    President, Director & CEO

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    Mr. Kolebaba has served as President and CEO of Diamonds North Resources Ltd since the Company's inception in 2002. Mr. Kolebaba's aggressive management style, innovative approach to exploration, ability to build strong partnerships with peers and the investment community has lead Diamonds North to become one of the prominent Canadian diamond explorers.

    Mr. Kolebaba has been actively exploring for minerals since the 1980's and has experience with diamonds, gold, silver and base metals. Prior to joining Diamonds North Mr. Kolebaba has held positions with BHP Billiton, Cominco Ltd. and the Northgate Group of companies. Mr. Kolebaba's passion for diamonds began in the 1990's working under the likes of Rory Moore, Hugo Dummet & Charles Fipke at the Ekati Diamond Mine, where his experience ranged from early exploration to feasibility studies for the Panda & Koala kimberlite pipes. During this time, 123 kimberlites were discovered, and more than 10 kimberlites were bulk sampled. In 1997, Mr. Kolebaba then initiated exploration outside of the Ekati Project for BHP and became involved in regional exploration in Canada and abroad managing diamond exploration activity in Eastern Canada and exploring for diamonds in China, India, Russia, Botswana, the Middle East, Sweden and Australia.



    Nancy L. Curry, B.A.
    VP Corporate Communications

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    Ms. Curry brings over 20 years of financial market, management and public company experience to Diamonds North. Ms. Curry began her career working in the brokerage industry and has worked for several national investment dealers specializing in trading futures. In 1995, Ms. Curry's public company experience began with Mountain Province Diamonds Inc., where she coordinated and implemented an extensive Corporate Communications and Investor Relations program for the company until 2000. Ms. Curry continued this communications role with several resource and technology companies before becoming Manager of Corporate Communications for Diamonds North Resources in September 2002. As VP Corporate Communications Ms. Curry has been responsible for the development of the Company's marketing and branding. Her honest and transparent approach to corporate communications ensures the shareholders are provided with accurate and current information. Diamonds North has recently been nominated "Best IR by a TSX Venture Exchange Company" for the IR Magazine Canada Awards 2009, this is the Company's second nomination in five years.



    Bruce Kienlen, B.Sc., P. Geol
    VP Exploration

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    Mr. Kienlen joined the Diamonds North exploration team in April 2003, and has served a key role in the generation and advancement of Diamond North's projects. Prior to joining Diamonds North, Bruce spent 7 years at BHP Billiton Diamonds, where he gained diamond exploration experience in Canada (including Nunavut and the Northwest Territories) and internationally including Sweden, the Middle East and Brazil. As VP Exploration, Mr. Kienlen's strong technical knowledge of indicator mineral chemistry, ability to assess regional terrains and evaluate kimberlite targets particularly in glacial environments has been fundamental in the development of Diamonds North's prospective land portfolio and the discovery of 29 kimberlites on Diamonds North's Amaruk project. Mr. Kienlen is responsible for successfully managing multi-million dollar budgets for the Company's northern operations and overseeing the assessment of the kimberlites discovered as they progress to more advanced stages of evaluation.



    Graham Gill, B.Sc., P.Geo
    VP Operation

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    Mr. Gill joined Diamonds North Resources in 2002 with a focus on project logistics, implementation and community relations. Mr. Gill has more than 15 years of exploration experience with base and precious metal programs in western Canada, Nevada and Africa. His experience ranges from field to senior project geologist with companies such as Cominco Ltd., Noranda Exploration Company Ltd., Hemlo Gold Mines Inc., and Battle Mountain Gold Limited. Mr. Gill's knowledge of logistics, community relations and government regulations has been integral to the Company's ability to efficiently work in Canada's north. In addition, Mr. Gill's technical planning and execution has been instrumental as the Company has advanced from target testing and kimberlite discovery to the bulk sampling stage of its kimberlites.



    Janice Davies
    Corporate Secretary, Officer

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    Ms. Davies has worked with public resource companies over the past 30 years and has a background in both the financial markets and legal sectors prior to working in the resource industry. Ms. Davies is engaged in maintaining corporate compliance with regulatory bodies, legal filings and office systems development and administration, she brings a comprehensive understanding of governance procedures, regulatory and security filings to Diamonds North.



    Michael Lee, CGA
    Chief Financial Officer

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    Mr. Lee is a CGA with over 16 years experience in public and corporate accounting. Mr. Lee's experience includes serving as controller for a variety of TSX Venture Issuers and private companies. Mr. Lee joined Diamonds North in February 2003 and his experience and knowledge has been instrumental in navigating the company successfully through the changing financial reporting and disclosure requirements of a public company.

    Bernard Kahlert, B.Sc., P.Eng.
    Director

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    Bernard started his career in 1966 as a mineral exploration geologist with Canadian Superior Exploration focusing on base metals in Western Canada & the U.S.A. From 1970 to 1985 he worked at Amoco Minerals Co., in 71 he became Manager of Western Australia which included diamond exploration in the Kimberly district from 79 to 81. From 81 through 85, Bernard became Amoco's Western Canada Exploration Manager, focusing on gold and base metals. In 86-90 Bernard was a consulting Geologist working on various commodities in Canada, USA and China.In 1990 Bernard became VP of Exploration for Major General Resources (now Commander Resources Ltd) and was instrumental in assembling the Victoria Island portfolio.



    Terry Lyons
    Director

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    Mr. Lyons brings to Diamonds North over 30 years of business experience in natural resources, manufacturing, real estate, merchant banking and corporate restructuring activities. He holds a B.Sc. in Civil Engineering from the University of British Columbia and an MBA from the University of Western Ontario. Mr. Lyons is currently the Chairman of the Board of Northgate Minerals Corporation. Since 1976 Mr. Lyons has held a variety of senior positions at Versatile Corporation where he was involved in strategic planning, budgeting, finance, mergers, acquisitions and project management. In 1986 he was appointed Senior Vice-President responsible for the restructuring of Versatile Corporation, now known as BC Pacific Capital Corporation which is an affiliate of Brascan Financial Corporation. Mr. Lyons is a director and officer of several public corporations including BC Pacific Capital Corporation, and Canaccord Capital Inc. Mr. Lyons also served as the Chairman of the Board of Westmin Resources Ltd. and was a director of the Battle Mountain Gold Company. An active member of the community, Mr. Lyons is a former Governor of the Olympic Foundation of Canada and a member of the Advisory Board of the Richard Ivey School of Business at the University of Western Ontario.



    Maynard E. Brown, LLB
    Director

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    Maynard has been a member of the Law Society of British Columbia since 1973 and for the majority of his professional career, specialized in advising public companies on securities law and matters related to financial and stock exchange transactions. He has been a director of the Company since inception and serves on a number of internal committees.



    Yale Simpson, B.A.Sc.
    Director

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    Former chairman of Argosy Minerals Inc. and a geological engineer, Yale has over 30 years experience as a senior geologist, exploration manager and CEO on projects in Australia, Africa and eastern Europe with Pennzoil, chevron, Black Swan and other major international companies.



    Bill Zimmerman B.Sc., M.B.A.
    Director

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    As an independent director, Bill brings to Diamonds North over 30 years of business experience in natural resources, specializing in the development and implementation of successful marketing strategies of commodities including diamonds. He holds a Masters of Business Administration from the University of San Francisco and a B.Sc. in Mineral Economics from The Pennsylvania State University.

    As the former President of BHP Diamonds Inc., Bill was responsible for developing new diamond opportunities and the sorting, valuation and sales of diamond produced from the Ekati Diamond Mine. Bill became involved in the Ekati Diamond Project in 1994 and led the team that developed and implemented the successful strategy for selling diamonds from Canada's first diamond mine to world markets.

Broker Fact Sheet

  • DDN Broker Fact Sheet
    Thu Mar 29, 2019
    Fact sheet details
Diamonds North Resources
Symbol
DDN
Exchange
TSX-V
Shares
103,927,308 FD May 31 2012
Industry
Metals & Minerals
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